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Five-storey Cork office block for sale at €1.5m

South docklands office is 1.5km from Cork city centre in an established commercial area

Tue, Mar 28, 2017, 16:00Updated: Tue, Mar 28, 2017, 16:14

Justin Comiskey

Cleve Quarter is built around a central service core which incorporates a stairs, two lifts and toilets on each floor

A modern five-storey office block in Cork’s south docklands in on the market at €1.5 million (or around €43.50 per sq ft) through Lisney.

The sale of Cleve Quarter on Monahan Road is on behalf of receiver Gearoid Costelloe of Grant Thornton. A part of the first floor was previously sold to an owner-occupier, and this is excluded from the sale.

The remaining space, which is vacant and extends to 3,205sq m (34,501sq ft), plus 30 basement car-parking spaces and 55 surface car-parking spaces to the rear, are included in the sale.

Each floor is around 790sq m (8,500sq ft), while the top floor of 372sq m (4,000sq ft) is set back with an external terrace. The offices are mainly finished to a shell standard internally, and each floor is subdivided.

Cleve Quarter, located around 1.5km east of Cork city centre, is constructed around a central service core which incorporates a stairs, two lifts and toilets on each floor level.

This is an established commercial location with Cleve Business Park on an adjoining site and the Tellangana House and Phoenix House office blocks nearby.

Suburban and business park office rents in the area are around €161.46 per sq m (€15 per sq ft).